UTTAR PRADESH MICRO, SMALL & MEDIUM ENTERPRISES PROMOTION POLICY-2022
Dear-Businessman/Investors,
In Series of KIP: Business and Subsidy Update, today we are going to share with you an informative series i.e., UTTAR PRADESH MICRO, SMALL & MEDIUM ENTERPRISES PROMOTION POLICY-2022
Objective
This policy targets to establish Uttar Pradesh as a preferred destination of attracting national and global investment for setting up maximum Micro, Small and Medium Enterprises, and registering 15 percent annual growth rate, Maximum employment generation in new units, and attaining 15 percent employment growth rate through the expansion and up-gradation of existing units.
Quantum of Assistance:
Capital subsidy
- Micro, small and medium enterprises in the Bundelkhand and Purvanchal region of the State will be eligible for capital subsidy of 25%, 20% and 15%, respectively.
- SC/ ST and women entrepreneurs will be eligible for 2% additional, capital subsidy.
- Capital subsidy is capped at Rs.4 Crore/ unit.
- Capital subsidy will be provided in 2 equal instalments.
Eligible Entities:
Legal entity registered as Proprietorship, Partnership firm, Cooperative Society, Company, Trust, Non-Government Organization (NGO), Limited Liability Partnership (LLP) or SPV created for the purpose of developing the Eligible Project as defined in this policy.
Implementation Mechanism:
- To get financial assistance under this policy, unit has to apply through on-line mode. The applicant could also track the application status online. For this purpose, the website of the Directorate would be modified as required.
- For availing of the benefits under the policy, the units will have to apply to the Deputy Commissioner of the concerned district. The Deputy Commissioner would make prompt evaluation and forward it with recommendations to the Joint Commissioner Industry of the concerned Division. All the applications would be approved by the committee constituted under the chairmanship of the Divisional Joint Commissioner of Industries. The Deputy Commissioners of Industry of the concerned district would be members of such committee. Besides, the divisional officials of the departments of power, pollution control and labor apart from the Lead Bank Managers of the districts would be members of the committee. The officials of other related departments can also be invited as members of the committee, if required.
- A State Level Empowered Committee would be constituted under the chairmanship of Commissioner and Director of Industry, Uttar Pradesh, which would include as members the state level officials of banks and departments of Pollution Control, Power, Labour, National Productivity Council, UPFC etc. If required, the Commissioner and Director of Industry could nominate other experts/departments in the committee, which would be mandated to technically evaluate the financial claims, calculate the benefits and accordingly seek the budget from the government.
- A High Powered Committee under the chairmanship of the Infrastructure and Industrial Development Commissioner would be constituted, which would be mandated to review progress and ensure inter-departmental coordination. The Additional Chief Secretary/Principal Secretary, MSME would ensure the disposal of cases, referred to by the Commissioner and Director of Industry, by placing it before the committee.
Commencement and Applicability:
This policy will be valid for 5 years from the date of Effective Date or till the time any new policy/amendment is introduced by Government of UP, whichever is later.
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